Hey, is anyone here from the UK and paying tax on their Internet earnings? If so how did you go about paying it / setting yourself up as self employed?
Thats interesting...I wonder if it would work? But I thought you paid more tax as self employed anyway? What do I know lol, I'm 16
I'm not from the UK but from NL ; I hear it is not that different in most European countries; you must pay tax otherwise if they find out you are in serious (well, very costly) trouble and you usually, if you are working on your own basically, go about it by starting a one-person company which is the same as self-employment/freelancer.
It's quite simple. You simply go on to the HM Revenue & Customs website and either register as self-employed or both employed AND self-employed. They then send you all the information you need about paying tax etc. Hope this helps a little anyway
If you're smart you pay way less tax when you're self employed. You can create more write offs, and instead of paying yourself a wage from your company you pay yourself in dividends. The tax on dividends in Canada is about 22%.
Why need declare it? i never declare it coz its only earn me $100 annually from ads at my site. Its wasting time and effort to declare such a small amount of earning